FY2024 Earnings Forecast for Sigma Lithium Issued By Cormark

Sigma Lithium Co. (NASDAQ:SGML) – Research analysts at Cormark lowered their FY2024 earnings estimates for shares of Sigma Lithium in a report released on Tuesday, February 25th. Cormark analyst S. Gill now forecasts that the company will post earnings per share of ($0.13) for the year, down from their prior estimate of ($0.12). The consensus estimate for Sigma Lithium’s current full-year earnings is ($0.12) per share.

Separately, Bank of America reduced their price objective on Sigma Lithium from $25.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th.

Sigma Lithium Stock Up 0.4 %

Shares of Sigma Lithium stock opened at $11.75 on Thursday. The company has a fifty day moving average price of $11.43 and a 200 day moving average price of $12.00. The company has a current ratio of 0.84, a quick ratio of 0.72 and a debt-to-equity ratio of 0.02. Sigma Lithium has a twelve month low of $8.47 and a twelve month high of $19.20. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -24.48 and a beta of 0.22.

Institutional Trading of Sigma Lithium

A number of hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC purchased a new position in shares of Sigma Lithium in the fourth quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new position in Sigma Lithium in the 3rd quarter worth $122,000. U S Global Investors Inc. lifted its holdings in Sigma Lithium by 233.3% in the 4th quarter. U S Global Investors Inc. now owns 10,000 shares of the company’s stock worth $112,000 after buying an additional 7,000 shares in the last quarter. Pictet Asset Management Holding SA purchased a new position in Sigma Lithium in the 4th quarter valued at about $142,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Sigma Lithium during the fourth quarter valued at about $150,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

About Sigma Lithium

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.